PUBLISHER: 360iResearch | PRODUCT CODE: 1465998
PUBLISHER: 360iResearch | PRODUCT CODE: 1465998
[194 Pages Report] The Blood Glucose Monitoring Market size was estimated at USD 13.06 billion in 2023 and expected to reach USD 14.08 billion in 2024, at a CAGR 8.28% to reach USD 22.80 billion by 2030.
Blood glucose monitoring refers to the ongoing process of tracking the levels of glucose in the bloodstream, which is crucial for individuals managing diabetes. This practice helps in making informed decisions regarding diet, exercise, and medication, contributing to the effective management of blood sugar levels and reducing the risk of diabetes-related complications. The expansion of its use is primarily driven by the growing prevalence of diabetes globally, advancements in technology that provide more convenient and less invasive monitoring options, increased awareness about the importance of glycemic control, and the development of integrated care models. However, discomfort and pain related to frequent finger-prick tests, the cost of monitoring supplies, and the potential for inaccurate readings due to user error or device malfunction impact the product adoption. Manufacturers are focusing on developing continuous glucose monitors (CGMs) that offer painless, real-time monitoring while reducing user involvement, as well as investing in smart devices that can integrate with mobile technology for enhanced data tracking and analysis. The future opportunities in blood glucose monitoring are abundant, with prospects of non-invasive techniques, artificial intelligence (AI) for predictive analytics, and interconnected healthcare devices that could contribute to a more personalized and efficient diabetes management landscape.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 13.06 billion |
Estimated Year [2024] | USD 14.08 billion |
Forecast Year [2030] | USD 22.80 billion |
CAGR (%) | 8.28% |
Product: Provision of personalized guidance in self-monitoring blood glucose monitors
Continuous blood glucose monitors are ideal for patients who require real-time glucose monitoring, particularly those with Type 1 diabetes or those who have intensive insulin therapy needs. CGMs are prescribed for users who benefit from tracking trends in glucose levels throughout the day, enabling more precise insulin dosing and better overall glucose management. Compared to self-monitoring blood glucose (SMBG) devices, CGMs offer the advantage of providing continuous, dynamic glucose level readings without the need for repeated skin punctures. They can reduce the incidence of both hyperglycemia and hypoglycemia, enhance quality of life, and improve glycemic control. Self-monitoring blood glucose devices are used by individuals who may not need continuous monitoring but still require regular checks of their glucose levels. These are suited for patients with both Type 1 and Type 2 diabetes, particularly those who manage their condition through diet, exercise, oral medication, or occasional insulin injections. SMBG devices provide a snapshot of the glucose level at the time of testing, requiring less commitment and expense compared to the more sophisticated CGMs. However, SMBGs rely on puncture tests, which can be less appealing to some users due to discomfort or inconvenience.
Testing Technology: Potential of electrode-type blood glucose monitors to be developed as portable and home-use devices
Electrode-type blood glucose monitors function by utilizing electrochemical reactions to measure glucose levels in the blood. A small blood sample is placed on a test strip, which contains an enzyme that reacts with glucose. The reaction produces a small electrical current that is measured by the electrodes, and the glucose level is then displayed on the monitor. Photoelectric blood glucose monitors work on the principle of photometry and uses a beam of light to measure the amount of glucose in the blood. The light interacts with the blood sample on the test strip, and the amount of light absorbed indicates the glucose concentration. Electrode-type monitors offer quick and highly accurate measurements, which makes them suitable for medical and emergency settings, as well as for diabetic patients who closely manage their condition. On the other hand, photoelectric monitors provide a non-invasive alternative that caters to those who seek comfort and potentially lower repetitive costs.
Application: Need for sophisticated CGMs with accuracy and constant monitoring for type-1 diabetes
Gestational diabetes mellitus (GDM) is characterized by glucose intolerance of varying severity and typically occurs during pregnancy. Blood glucose monitoring for GDM is critical to ensure the health of the mother and the developing fetus. Patients with GDM may have a specific need for monitoring tools with high accuracy and ease of use to manage glucose levels effectively, considering the temporary phase of their condition. Individuals with Type 1 Diabetes require lifelong insulin therapy and regular blood glucose monitoring. GDM requires continuous glucose monitoring systems (CGMs) that provide real-time readings and trend information, which can help in the tight management of their condition. Type 2 Diabetes, often related to lifestyle factors, requires personal blood glucose monitors for regular checks. Patients might prefer affordable and simple-to-use glucometers. Blood glucose monitors with connectivity features that can store data for long-term observation appeal to this segment. For gestational diabetes, the market emphasizes temporary monitoring solutions with advanced data management and sharing capabilities. In contrast, Type 1 Diabetes monitoring solutions prioritize accuracy and constant monitoring. Meanwhile, the market for Type 2 Diabetes focuses on cost-efficiency and ease of use, as patients often need to balance diabetes management with other life commitments.
End-User: Provision of blood glucose monitors that optimize clinical efficiency and patient throughput in hospitals
Home care pertains to blood glucose monitoring solutions used by individuals with diabetes or at risk of developing diabetes, primarily in a non-clinical setting. In the home care segment, users typically prefer compact, easy-to-use devices with minimal maintenance. Features such as connectivity to smartphones and seamless data transfer for remote patient monitoring are increasingly popular. Accuracy, affordability, and minimally invasive technology are also high on the preference list for home care users. Hospitals and clinics represent another major segment for blood glucose monitoring, where the emphasis is on precision, real-time monitoring, integration with hospital management systems, and the facilitation of comprehensive care for inpatients. These establishments require devices that can support a high volume of patients, offer robust connectivity for electronic health records (EHR) integration, and ensure precise, quick readings to inform immediate clinical decisions. High-quality, reliable, and easily sterilizable devices are preferred to prevent cross-contamination issues.
Regional Insights
In the Americas, blood glucose monitoring devices are widely used, owing to the increasing prevalence of diabetes, particularly in the United States, which has a mature market for diabetes care. The production of these systems in this region is characterized by high technological innovation, stringent regulatory oversight, and substantial investments in research and development. Major companies based in the Americas provide advanced monitoring systems, including continuous glucose monitoring (CGM) devices and flash glucose monitoring systems. On the other hand, in the Asia-Pacific (APAC) region, there is rapid growth in the blood glucose monitoring market, fueled by the rising diabetic population, growing healthcare awareness, and improving healthcare infrastructure, particularly in emerging economies such as China and India. Production in APAC tends to focus on cost-effectiveness and accessibility, with international companies expanding their footprint to capture the burgeoning demand. Western Europe shows a strong demand for innovative and non-invasive monitoring technologies similar to the Americas, while the Middle East and Africa are emerging markets with a focus on basic glucose monitoring systems due to cost constraints and varying levels of healthcare infrastructure. Companies in the EMEA region are working to strive to balance between introducing advanced products and catering to affordability in different parts of the region.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Blood Glucose Monitoring Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Blood Glucose Monitoring Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Blood Glucose Monitoring Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AdvaCare Pharma, Advin Health Care, ARKRAY, Inc., Ascensia Diabetes Care Holdings AG by PHC Holdings Corporation, B. Braun Melsungen AG, BAYER AG, Becton, Dickinson and Company, Dexcom, Inc., F. Hoffmann-La Roche Ltd., GlySens Incorporated, I-SENS, Inc., Insulet Corporation, Johnson & Johnson Services, Inc., LifeScan IP Holding, LLC., Medtronic PLC, Medtrum Technologies Inc., Nemaura Medical Inc., Nipro Europe Group Companies, Nova Biomedical, Novo Nordisk A/s, NXP Semiconductors N.V., PHC Holding Corporation, Prodigy Diabetes Care LLC, Sanofi S.A., Senseonics Holdings Inc., Sinocare Inc., Teladoc Health, Inc., Terumo Corporation, and Ypsomed AG.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Blood Glucose Monitoring Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Blood Glucose Monitoring Market?
3. What are the technology trends and regulatory frameworks in the Blood Glucose Monitoring Market?
4. What is the market share of the leading vendors in the Blood Glucose Monitoring Market?
5. Which modes and strategic moves are suitable for entering the Blood Glucose Monitoring Market?